Web3 Gaming Startup Kratos Announces Funding Round: Valuation Spikes Threefold The funding round was led by Aptos Labs, a company that develops Web3 solutions for service games with blockchain startups Polygon and esports network Game7 also participating.
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Web3 gaming startup Kratos Gamer Network (KGen) has raised USD 10 million (INR 84 crore) in a funding round, that has raised the company valuation to USD 500 million
The funding round was led by Aptos Labs, a company that develops Web3 solutions for service games with blockchain startups Polygon and esports network Game7 also participating.
KGeN has previously raised USD 20 million in February 2023 in a round led by Accel at a valuation of USD 150 million.
Manish Agarwal, Co-founder, KGen told Economic Times, "Fundamentally, we're building a decentralised Facebook…for global game publishers to reach gamers. We started in India and expanded to Brazil and Bangladesh. Now, we want to expand to the Middle East because that's where the gaming growth is going to happen for the next 10 years."
According to ET, about 60% of KGeN's users are from India, with 10% each from markets like Brazil and Bangladesh, and the remainder from other markets, including Nigeria. KGen also plans to make a major foray into the MEA region, where the company aims to cater to the high-value gaming segment.
